Common use of Apply Security Clause in Contracts

Apply Security. The LFC may, without recourse to the Service Provider, deduct any overdue amount owed by the Service Provider under this Agreement (other than amounts that are subject to a dispute in accordance with clauses 7.6 or 7.7) from any Security, and if it does so it will promptly notify the Service Provider of the amount deducted. Any such deduction will be without prejudice to the Service Provider’s continuing obligation to maintain the Security in accordance with the requirements of clause 8.2. The Service Provider will ensure that, within 10 Business Days of receiving notice of such deduction, it provides any additional Security required to restore compliance with clause 8.2.

Apply Security. The LFC may, without recourse to the Service Provider, deduct any overdue amount owed by the Service Provider under this Agreement (other than amounts that are subject to a dispute in accordance with clauses 7.6 or 7.7) from any Security, and if it does so it will promptly notify the Service Provider of the amount deducted. Any such deduction will be without prejudice to the Service Provider’s continuing obligation to maintain the Security in accordance with the requirements of clause 8.2. The Service Provider will ensure that, within 10 ten (10) Business Days of receiving notice of such deduction, it provides any additional Security required to restore compliance with clause 8.2.

Apply Security. The LFC may, without recourse to the Service Provider, may deduct any overdue amount owed by the Service Provider under this Agreement (other than amounts that are subject to a dispute in accordance with clauses 7.6 or 7.7) from any Security, and if provided that it does so it will promptly notify notifies the Service Provider of the amount deductedto be deducted not less than 5 Business Days prior to making that deduction. Any such deduction will be without prejudice to the Service Provider’s continuing obligation to maintain the Security in accordance with the requirements of clause 8.2. The Service Provider will ensure that, within 10 Business Days of receiving notice of such deduction, it provides any additional Security required to restore compliance with clause 8.2.